Personal Finance Weekday Help and Victory Thread for the week of January 27, 2020 |
- Weekday Help and Victory Thread for the week of January 27, 2020
- I missed 10 days of work due to our whole city being in a state of emergency. (Newfoundland, Canada). Where do I go from here?
- An annual raise isn't a reward for performing the past year but an incentive to stay another year. Would you agree?
- IRS Free Fillable Forms Is Open!
- Financial concerns when relocating for a job
- How beneficial is it to pay student loans slowly?
- My mother in law opened a personal loan in my Wife’s name without our knowledge and now she is late on the payments. What should we do?
- Car accident while working
- Parents can no longer claim me as a dependent. How does that change how I do my taxes?
- Removing account dispute comment turned in to Experian opening a dispute without my permission. Options? Timeline?
- Time in the market beats timing...
- Today I finally grew the balls to ask my boss for a raise...
- Hi, I just turned 18 and want to open my first bank account, and I don't know what to do/how to do it. How does this stuff work?
- Looking for tips on how to pay for graduate school/MBA.
- In terms of buying a home, given our income, what is frugal, average, and lavish?
- Wife is a teacher, was not paid on Jan 16th. She is paid through the County. County is ignoring her calls.
- 10k bonus coming in. Dump all in student loans?
- Am I spending too much on food?
- My employer accidentally messed up my paychecks for 7 months. I'll explain as much as i can and I am confused on how this should play out
- Best place to park 80k for 5 years?
- Methods to diversify from stock market that aren't real estate
- Is joining the military 'worth it' after finishing at a trade school? (Automation and Robotics) From a financial and career standpoint?
- First Job: Any tips?
| Weekday Help and Victory Thread for the week of January 27, 2020 Posted: 27 Jan 2020 03:07 AM PST If you need help, please check the PF Wiki to see if your question might be answered there.This thread is for personal finance questions, discussions, and sharing your success stories:
A big thank you to the many PFers who take time to answer other people's questions! [link] [comments]  |
| Posted: 27 Jan 2020 08:52 AM PST Is all that money lost? Our SOE was lifted two days ago and I'm going back into work today. I work at a small restaurant, obviously there isn't a lot they can do about it. I don't know if there's any kind of application I can put in for financial assistance or what? I'm 22, not in school, very low income. Rent is due on Saturday and I'm definitely going to be short. Surely half of this city must be in the same boat as me right now? I've never dealt with anything like this before. All advice is welcomed! EDIT: I'm at work here now. I'm so grateful for all these responses and I'm excited to get home and try and reply to everyone! Thanks for all the advice and sympathies guys. I will be replying ASAP. [link] [comments]  |
| Posted: 27 Jan 2020 02:25 PM PST As I'm coming to grips that my current job may no longer be for me, I tried to justify it to myself that I'd wait for my raise and see whether it's worth leaving. It then hit me that waiting for this raise isn't going to inherently change things. In order for me to see the difference, I'd have to stay another year because only then would I see the full effect of the raise. And by that time, another raise would be imminent and then I'd be stuck in this loop of just 'waiting'. No matter how hard you over perform, your raise isn't indicative of your performance but rather a reason for you to stay at the same company. But I guess it also makes you wonder at what monetary value is it worth jumping ship? If I'm offered an additional X amount of money to stay at the same company and do work that's considered easy because I'm used to it versus moving to another company to get an additional 2X but start all over, is that viable? I currently love everything about my job, except the salary. I'm probably paid 20-30% under market. Are there many people that can say this? I'm able to work from home whenever I want, most days are stress free, I can easily get overtime even though I'm salaried and taking time off doesn't require manager approval as long it's not over 4 weeks. At what point do you decide that a raise isn't worth staying for and you would be better off job searching even though you have nothing against your current job besides the salary? I'm not struggling financially or anything, but I'm also not making as much as I could be. EDIT: I didn't put in any actual values because I think it's subjective to one's situation. 40k for one person could be the same as 75k for another person which would be the same as 120k for another person, relative to their expenses. [link] [comments]  |
| IRS Free Fillable Forms Is Open! Posted: 27 Jan 2020 08:39 AM PST For those who are comfortable doing their own taxes, you can do your own taxes and e-file for free at the IRS's free fillable forms website: https://www.irs.gov/e-file-providers/before-starting-free-file-fillable-forms [link] [comments]  |
| Financial concerns when relocating for a job Posted: 27 Jan 2020 06:57 AM PST I'm considering relocating for a job and trying to think through the decision from a personal and financial standpoint. I came across this online "Should I move for work?" decision tool that walks you through a bunch of questions and gives some advice. This was actually pretty helpful, but I feel like I'm still missing some things and there isn't a lot of info online about relocating. Hoping Reddit can help. Specifically… What is reasonable to ask for as far as the company paying for my relocation? Do most companies do this? The tool actually calculated my adjusted salary based on the change in cost of living and it looks like I'll be making less money (I'm moving to a more expensive city). Any tips on how to bring this up with my employer? This is for a new job. Thanks! [link] [comments]  |
| How beneficial is it to pay student loans slowly? Posted: 27 Jan 2020 05:00 PM PST I've just graduated college and only have a small amount of debt from student loans (~$10k) at an average interest rate of about 4%. I have 3 credit cards, no debt from any of them, with a relatively young average account age. No car loans or anything else on my credit report. With my current job, I can pay off the rest of my loans before the summer. Would it be a bad idea to continue paying these loans aggressively because it'd lower my average age of accounts for a while? I'm not planning on taking out a mortgage for years if that's at all relevant. [link] [comments]  |
| Posted: 27 Jan 2020 09:20 AM PST My wife was contacted by the loan agent advising there was a joint loan opened up in hers and her moms name and that the payments are late. Her mom is semi estranged living on the other side of the country. We are getting ready to buy a home, what do I do? [link] [comments]  |
| Posted: 27 Jan 2020 04:38 PM PST Indiana My husband is a maintenance man, he was driving his truck from 1 property to another when the tire blew causing him to crash into a church sign and run over a bush, totaling his truck. Our insurance isn't covering it because he was working while it happened, but his boss is saying that his insurance won't cover it unless ours specifically says it won't cover property damage... Our insurance does cover property damage it just doesn't in this instance because he was working. What next? We already bought a new truck I just want the damage to the church property paid for. [link] [comments]  |
| Parents can no longer claim me as a dependent. How does that change how I do my taxes? Posted: 27 Jan 2020 06:27 PM PST For some background info, my parents claimed me as a dependent until 2019. I graduated from college in Spring 2019 and also starting working FT making substantially more than I did (which means I can no longer be my parent's dependent). I also started paying back my loans in Dec. 2019. So far, the W2 part is easy to figure out. The forms I'm concerned about are the 1098-E and 1098-T. Should I not be expecting a refund at all? I'm using TurboTax right now (which is my current frame of reference for a possible refund), but might switch over to the free filing options on the IRS site. [link] [comments]  |
| Posted: 27 Jan 2020 07:08 PM PST I am in the middle of shopping around for a mortgage and it was brought to my attention that one of my accounts has a comment on it from a dispute that I opened in 2017. The comment reads "Dispute resolved, consumer disagrees.". (If I recall correctly, I got a little overzealous with the credit karma dispute tool and disputed an inaccurate balance several years ago.) I was informed that I would need to have this comment removed from my report before underwriting would approve the mortgage. After about 4 hours collectively spent on hold, Equifax, Transunion and Experian informed me that the comments were removed and should reflect within 24 hours. After getting off work I checked the Experian mobile app and it shows that the comments were not removed and a new dispute was opened. I tried to call Experian back however the office that handles this was closed for the evening and the CSR that I spoke to was pretty rude and said I'd probably need to wait 30 days for the dispute to be reviewed. Anybody have any experience with having an open dispute canceled or be able to shed light on the timeline to have it canceled and have comments removed from an account? In any other case I'd probably just wait it out but I'd really hate to miss my house closing date because of a bogus dispute with otherwise perfect credit.. [link] [comments]  |
| Time in the market beats timing... Posted: 27 Jan 2020 01:40 PM PST Around this time last year (or maybe January of 2018) I saw a post in either r/personalfinance or r/financialindependence that modeled 4 friends each maxxing out their IRA's every year. It had one I think just do HYSA, one at lowest of market, one at the highest of the market, and one on January first. It was an excellent write up, but I can't seem to find it anymore! It had something like "case study" in the title, I'm hoping one of y'all can help me find it. Edit: u/jerschneid hooked me up, here it is https://www.reddit.com/r/investing/comments/c3813m/when_to_contribute_to_your_ira_an_original_study [link] [comments]  |
| Today I finally grew the balls to ask my boss for a raise... Posted: 27 Jan 2020 08:06 PM PST AND HE'S GOING TO SUPPORT IT! I haven't even been in my job a year. I have to wait a few weeks for my year to complete and then he's going to complete the forms necessary to rework the position and have a follow up meeting on the amount. Just wanted to say Thank you. I would have never had the guts to try it if it wasn't for this group. [link] [comments]  |
| Posted: 27 Jan 2020 06:03 AM PST As it says in the title, I'm recently 18 and have virtually no idea how any of this works. Sorry if it's in the wrong flair. I've been subbed here for a while and you guys have helpful advice sometimes, so I was hoping someone could help me out a bit. Just not sure what to do, like, checking or savings account? Thanks. [link] [comments]  |
| Looking for tips on how to pay for graduate school/MBA. Posted: 27 Jan 2020 04:32 PM PST Hi, For those of you who have gone on to elite business schools, how did you finance them? I have been given the opportunity to attend an M7 business school, but the total price will come out to just a bit over $200,000. I'm trying to wrap my head around taking out this much debt. I have about $50k in savings I could wipe out to pay for a portion of the tuition, but I'd still need to take out loans to cover the rest. I'm trying to see if it makes sense to just keep the cash in a HYSA and just max out my student loans, or wipe out my cash savings. Could the redditors who have attend these schools - or other expensive graduate programs - talk about how you were able to pay for these programs? Did you clear out savings, or max out loans. Are there any regrets/things you wish you had done differently? [link] [comments]  |
| In terms of buying a home, given our income, what is frugal, average, and lavish? Posted: 27 Jan 2020 07:03 PM PST Hello, My husband and I have zero debts. Our cost of living is low. We have been renting for years. The next few years we are going to spend saving for a house. We want a large house more than anything (cars, vacations, going out). To have a space for a studio and a large back yard for target practice is what we need! We'd like to push it to the limit without it it being too much of a burden. He makes 80k and I make 40k. I'd like us to save up at least 70k before buying for a down payment. I know larger than what is typical. We are in an amazing financial situation where we can save 50k a year! I feel I should take advantage of this low cost of living we have now. Any other information you need, let me know! Thanks. [link] [comments]  |
| Posted: 27 Jan 2020 05:48 PM PST I just want to see what course of action my wife should take here. She was not paid almost two weeks ago and is expecting another paycheck soon. Fortunately i make enough to compensate us but this could devastate a family right? She keeps calling and they keep saying they'll have somebody reach out. If we do finally get in contact should we ask for some sort of recompense? And if we cant get in contact, do we call the police? What exactly is the law here? [link] [comments]  |
| 10k bonus coming in. Dump all in student loans? Posted: 27 Jan 2020 05:40 PM PST Bit of background:
I'm getting a $10k bonus from work that hits on this weeks paycheck. I want the peace of mind of being free from student loan debt, so I was thinking of dumping all the bonus into my student loans. One of my financial goals for 2020 is to get rid of these things... Would the better financial decision bet to put as much possible towards the student loans or divide up the bonus to add some to savings, pay on student loans, and pay on auto loan? [link] [comments]  |
| Am I spending too much on food? Posted: 27 Jan 2020 09:34 AM PST My wife and I spend about $400 a month (about $100 a week) on groceries (not counting eating out). I see a lot of post saying how some families of 4 have a food budget of less than $300 a month. The thing that confuses me is that we buy pretty cheap groceries (rice almost every meal, chicken breast, and roasts) and rarely eat out ( 1-2 times a month @~$50 each). Is $400 a month on groceries for 2 people too much? EDIT: we do most of our shopping at ALDI, Walmart, and BJs [link] [comments]  |
| Posted: 27 Jan 2020 04:29 AM PST Okay so i am an EMT for a private ambulance company to start off. 7 months ago training started me out at 12.50 and i was promised if i signed a contract i was to receive 15 an hour. I 100% REMEMBER SIGNING THE CONTRACT. My boss told me he cant find my contact. On the contract it states that if you refuse a run and your on a contract, your suspended for 3 days and ive received a punishment in november like my contract was supposed to say. And i didnt go to work for 3 days. FOR 7 MONTHS they just gave me access to my pay stubs cause i was moving to my new apartment and i found out i have been getting paid 12.50 in instead of 15. Should i expect a back pay? Is there going to be lawyer needed to receive all my pay ive never received these past months for my hard work? Any more questions to help me with this dilemma please ask im also confused on this conflict and my coworkers are telling me i should be getting a big check of around $2000 or more. I have a meeting with my boss and regional manager on Wednesday and i don't want to miss on my opportunity to receive my pay for my bosses screw up [link] [comments]  |
| Best place to park 80k for 5 years? Posted: 27 Jan 2020 07:56 PM PST I intend on using this for a down payment In about five years. Currently in an ally account earning 1.6%. What can I do better? [link] [comments]  |
| Methods to diversify from stock market that aren't real estate Posted: 27 Jan 2020 07:40 PM PST Through a commitment to investing I have managed to be in a better situation than I thought I'd be in. I still have a long way to go, but I'm committed to investing and saving and am proud of my success. I'm still a fan of owning just a few ETF's/Funds and letting time and compound interest do its thing. I realize that I am somewhat diversified through ETF choices. If I wanted to take a portion of my net worth and diversify outside of the markets (stock and bond), but have little interest in owning real estate outside of my own residence, I'm not sure where to start researching. Tenants seem like a hassle and my location is a crazy real estate market with single family homes starting in the 400k's. I'd love a few ideas or suggestions of things to look into that might work. I know this is open ended.. Thanks! [link] [comments]  |
| Posted: 27 Jan 2020 12:02 PM PST In a few months I'll be obtaining my Automation and Robotics certificate and be able to work full time, making anywhere from $18-24/hr entry level, so would I be taking a step up or step down on the track to financial stability if I were to join the military after school? IMPORTANT NOTE:I do not plan to make the military a career, I was mostly leaning towards the idea of 3-5 years active and then going reserves I'm trying to make a list of just going straight to work or going to the military (strictly financial) and here's what I could think of so far; Straight to work after school:
Going to the military:
The list is for me to visualize some things, i don't know much about the military but only things I've heard from recruiters and some googling. it may be inaccurate, i'll update if I made a mistake. I currently have no debt, I'm 20 years old, and will have a robotics certificate in a few months. Just really need help on deciding to live a civilian life or go into the military (airforce) and make it a career Similar to this post but I will be coming from a trade background [link] [comments]  |
| Posted: 27 Jan 2020 11:30 AM PST Hi, i am 18 years old and i am looking for my first job. The problem is that i don't know what are the best decisions i can take. I decided to try to get a job because i need the money and this year i will get into university (translator degree). What are the best tips? [link] [comments]  |
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